Search and Rescue Robots Market: Current Analysis and Forecast (2021-2027)

Search and Rescue Robots Market: Current Analysis and Forecast (2021-2027)

The global search and rescue robots market is expected to register a CAGR of around 19% over the period of 2021-2027. The global search and rescue robots market is uplifting on account of the increasing use of robots in areas affected by chemical, biological, radiological, and nuclear (CBRN) rescue missions and advancements in robotics technology. Moreover, the easily reachable in compact & hazardous situations feature offered by search and rescue robots followed by the rapidly rising military budget all around the globe is positively stimulating the industry landscape. The continuous technological advancement in robotics is further contributing to the growth of this market. For instance, the Massachusetts Institute of Technology recently developed robotic fireflies, the robot is intended to be used for search and rescue missions, fire disasters, searching for survivors in disaster areas, and signaling assistance in collapsed buildings. Furthermore, the increasing investment in the robotics manufacturing companies is also driving the growth of the search and rescue robots market. For instance, Apptronik, a robotics company based in Texas, the US, specializes in developing versatile mobile robot systems has raised USD 14.6 million in seed funding.

Boston Dynamics Inc., Teledyne FLIR LLC, Textron Systems Corporation, Hydronalix Inc., Kongsberg Gruppen ASA, Lockheed Martin Corporation, Northrop Grumman Corporation, Pliant Energy Systems LLC, Saab AB, and Thales Group are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
 
Insights Presented in the Report
"Amongst type, the land segment held a prominent share in the market in 2020”

On the basis of type, the market is divided into land, marine, and airborne. Among these, the land segment accounted for a commendable share of the search and rescue robots market in 2020 and is expected to witness robust CAGR during the forecast period owing to increasing adoption of land search and rescue robot for electronic and military combat missions. Land search and rescue robots will continue to attract investors as these robots are getting better over the years, they can use sensors ranging from cameras to carbon dioxide detectors to tell if people are still breathing. Moreover, ongoing research and development programs are trying to enhance the land search and rescue robots. Companies like Boston Dynamics are currently working on advanced AI-powered robots that can move through rugged terrain and carry noteworthy weight.
"Amongst operation type, remotely operated robots captured a prominent share in the market in 2020”

Based on operation type, the market is segmented into autonomous, remotely operated and others. The remotely operated segment held a significant share of the global search and rescue robots market in 2020 and is expected to showcase a prominent CAGR during the forecast period. Growth in this segment is due to increased use robots in surveying and mapping applications. Robot mapping has been a very active field in robotics and AI research for at least 20 years. Robot mapping addresses the issue of how mobile robots get a spatial model of their physical environment. Moreover, increasing fundings in the robotics mapping-based companies are further driving the growth of this segment. For instance, Indoor Robotics, an indoor drone technology company that recently launched the Tando ™ drone, announced that it has closed USD 15 million in Series A funding.
"APAC to witness significant growth during the forecast period”

APAC accounted for a significant share of the global search and rescue robots market and is expected to grow at a steady growth rate during the forecast period. The growth of the search and rescue robots market in the region can be attributed to the increasing acceptance of robots for military purposes and the increasing investment by many countries for the development of advanced search and rescue robots. Further on, the countries in the region are increasing their military budget, which is impacting the search and rescue robots market in a positive way in the region. For instance, the military spending of India stood at USD 71.12 Bn in 2019, which rose to USD 76.6 Bn in 2021.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.